Gaurav Taneja, famously known as Flying Beast, is a name that rings bells among millions of social media followers. He has been known for his family vlogging channel and the fitness brand Beastlife. Taneja recently featured on Shark Tank India Season 4 seeking investment in his venture. His massive social media following and high sales figures were no guarantee to ensure that his pitch would be a success; instead, it was rejected. It describes in detail how he appeared on the show, the concerns the Sharks had about his business, and what happened after the episode.
The Pitch
Beastlife is a Gurgaon-based startup founded by Gaurav Taneja and Raj Gupta, which aims to revolutionize the fitness market of India through protein supplements. The duo required Rs 1 crore for 1% equity stake to scale up their business. Within an hour of its password-protected website being launched, the brand managed to garner impressive sales of Rs 1 crore. This prompt success was mainly due to Taneja’s huge social media following of 9.5 million subscribers on YouTube and 3.7 million followers on Instagram.
The Concerns of Sharks
Although sales figures were pretty impressive, there were several reasons the Sharks rejected Taneja’s pitch. One of them, Anupam Mittal, said, “You are a good influencer, but a very terrible entrepreneur”. He asked how Taneja was going to dedicate enough time and energy to Beastlife while dealing with multiple ventures. This added on to the concern that Taneja wasn’t transparent about the other sources of his income. He had, after all done very well in the influencer space.
Shark Vineeta Singh pointed out that Taneja was seeking investment on Shark Tank India more for marketing his brand than for genuine investment. She added, “You have earned Rs 1 crore in one hour. Do you need my Rs 1 crore?” There was also a sense of doubt among the Sharks about the heavy valuation proposed for the startup by Taneja as there seemed to be no concrete idea for the long run by him.
Equity and Ownership
Another contentious issue was the equity split among the founders. Gaurav Taneja owns 40% of Beastlife, and his co-founder Raj Gupta has 11%. Varun Alagh, who is an investor and co-founder of Mamaearth, owns 30% in the company. Even though there is a highly fragmented ownership, Taneja and Gupta wanted Rs 1 crore for just 1% equity, which valued the startup at Rs 100 crore.
The Aftermath
Despite the setback, Taneja and Gupta still hold hope for Beastlife’s future. In just six months, the company has achieved sales of Rs 14 crore. But the journey ahead will be far more than the influencer power. Taneja’s transparency issues and the Sharks’ concern over his divided focus will need to be overcome for Beastlife to survive in the long run.
Conclusion
Gaurav Taneja, the man on Shark Tank India, was a blend of ambition and rejection. Although his sales figures and social media following were not in doubt, the Sharks felt that his divided focus and lack of transparency ultimately led to a “no deal.” The episode is a reminder that although influencer power drives initial success, true entrepreneurship demands dedication, transparency, and a clear long-term vision.
